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House #1: Appraisal

April 18, 2011

We just got the appraisal back for The Corn House, and I’m thrilled to say that it came in $2500 above the contract price… I was seriously concerned about this particular appraisal, as there aren’t a lot of comps in the area, and this is the same appraised value that we received about a year […]

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House #23: Inspection

April 15, 2011

The buyer of The Horsey House had his inspection today… As I suspected, with the house only being 8 years old and us doing a nearly full cosmetic remodel, there were very few issues found. A missing light socket in the garage, a couple doors that don’t latch as easily as they should, a storm […]

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House #1: Re-Inspection/Appraisal

April 13, 2011

The Corn House sale is moving along smoothly, and assuming there are no hiccups with the appraisal value or the underwriting, I’m hopeful that we’ll get this one closed within the next two weeks… Because the buyer is using a public loan program for financing, any inspection issues that were identified during the inspection had […]

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House #23: First Contract

April 9, 2011

The Horsey House has been listed for about two weeks now, and while we’ve gotten some qualified potential buyers through the house, we haven’t gotten a tremendous amount of interest. I attribute this to several things: We listed the property a good bit higher than we realistically expect to receive, as we wanted to see […]

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FREE Lonnie Deal Lead

April 8, 2011

UPDATE: DEAL HAS BEEN SCOOPED UP…I’LL POST UPDATES IF I GET THEM If I haven’t already proven my desire to give stuff away to help other investors, here’s a free lead on a low-price real estate deal… 🙂 If you like purchasing Mobile Homes, are looking to get into Lonnie Deals (reselling Mobile Homes using […]

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House #21: More Delays

April 6, 2011

We’ve been waiting to close on the purchase of The Leak House since January. As I mentioned previously, the bank has been working for nearly three months to get the foreclosure deed in-hand and over to their closing attorneys, and there is no explanation for the delay… Finally, this past week, the bank’s attorney got […]

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House #1: Inspections

April 4, 2011

Things are moving right along on the sale of The Corn House. The buyer is using a down-payment assistance program, which required two separate inspections — one just a basic safety inspection and one a full general inspection. Both were completed last week, and while there were some repairs/issues noted (in the general inspection), there’s […]

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House #22: Final Analysis

March 31, 2011

We sold The Trifecta House today (statistics and financial results below)…after a quick rehab (11 days) and a quick sale (4 days on market), it took about 6 weeks to get the deal closed. Given the total hold time of 62 days and a total profit of nearly $20K, I certainly consider this is successful […]

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House #23: Budget Recap

March 28, 2011

As I mentioned a few days ago, The Horsey House renovation is complete and the property is listed for sale. In my original post about this house, I mentioned that rehab costs should probably come in below $15,000. I was off by a little bit on this one (see breakdown below), both because I forgot […]

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House #23: Final Pictures

March 25, 2011

After a long week of renovations on The Horsey House, it’s now been staged, photographed and listed for sale… Here are some final staging pictures of the rehab… Of course, here is my favorite picture from this house:

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